33050

Commercial Banking

Complete the text using these words:

accounts	bank loan	cheque	customers'
current account	debt	depositors	deposits
lend	liabilities	liquidity	optimize
overdraft	salary	spread	standing orders
return	transfer	wages	withdraw

Commercial banks are businesses that trade in money. They receive and hołd (1)............pay

money according to (2)...........instructions, (3)...........money, etc.

There are still many people in Britain who do not have bank (4)............Traditionally,

factory workers were paid (5)...........in cash on Fridays. Non-manuał workers, however, usually

receive a monthly (6)...........in the form of a cheque or a (7)...........paid directły into

their bank account.

A (8)...........(US: checking account) usually pays little or no interest, but allows the holder

to (9)...........his or her cash with no restrictions. Deposit acctnints (in the US also called time

or notice accounts) pay interest. They do not usually provide (10)...........(US: check) facilities,

and notice is often reguired to withdraw money. (11)...........and direct dehits are ways of paying

regular hills at regular intervals.

Banks offer both loans and overdrafts. A (12)...........is a fixed sum i>f money, lent for a

fixed period, on which interest is paid; banks usually require some form of security or guarantee hefore

lending. An (13)...........is an arrangement by which a customer can overdraw an account, i.e.

run up a deht to an agreed limit; interest on the (14)...........is calculated daily.

Banks make a profit fn>m the (15)...........or differential hetwccn the interest rates they

pay on deposits and those they charge on loans. They are also ahle to lend morę money than they receive in deposits hecause

(16)     rarely

withdraw all their money at the same time. In order to

(17) ...........the return on

their assets (loans), hankers have to find a halance hetwccn yield

and risk, and (18)...........

and different maturities, and to match these with their

(19)    ........... (deposits).

The maturity of a loan is how long it will last; the yield of a loan is its annual

(20) ...........- how much

money it pays - expressed as a

38

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